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Old Mutual International launches expat referral service

14/07/2016

Old Mutual International is pleased to announce the launch of a new expat referral service offered by EY. The new service comes at a time when expats and non-UK domiciles will value expert tax advice as they digest what ‘Brexit’ could mean for them. Over the coming months and years, this demand is likely to increase as more detail emerges on the potential legislative changes.  

Tax planning for expats and non-UK domiciles has become increasingly complicated. There is increased scrutiny on people’s tax affairs and people want reassurance that they are meeting their tax obligations. Add in Brexit, and the situation will get even more complicated. EY are a global leader in assurance, tax, transaction and advisory services, and can help offer tax advice when clients need it most. The EY referral service will complement the services the client currently receives from their financial adviser. 

The new referral service will offer expert tax advice to those looking to relocate overseas or relocate to the UK. The service aims to give peace of mind to advisers and clients, that all aspects of the client’s tax position have been considered in advance of leaving or arriving in the UK. Some tax matters may need to be addressed before relocation in order to comply with current tax legislation, so this is an important part of the client’s journey.

The referral service offered by EY also provides non-domiciles living in the UK with a review service. The domicile of an individual can have a big impact on the way in which they are subject to taxation in the UK, so a review service can help ensure their tax affairs are in order. Clients can access a suite of advisory services tailored specifically for non-UK domiciled individuals.

Old Mutual International will be promoting the service to its clients and has agreed a special fee structure with EY for clients wishing to access the service.


Rachael Griffin, financial planning expert at Old Mutual Wealth, comments:

Rachael Griffin“We just don’t know what effect Brexit will have on expats and non-UK domiciles living in the UK or the impact it will have in terms of emigration/immigration. On the one hand, we would expect to see legislation which helps encourage investment into the UK from overseas, but on the other-hand, the UK Government’s priority could be to raise tax revenue. One thing is certain, we can expect a period of change over the next couple of years and professional connections can be extremely beneficial for advisers and their clients in periods of change and uncertainty. Advisers and their clients will want peace of mind that they are meeting their tax obligations in the country they live as well as the country in which they are domiciled, and the services of a professional tax expert can be invaluable.”

 

 

For more information contact

Sophie HeywoodOld Mutual Wealth02380 91677007834 499558sophie.heywood@omwealth.com

Notes to editors:

About Quilter plc:

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter plc oversees £116.5 billion in customer investments (as at 30 June 2018).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions and discretionary fund management.

The business is comprised of two segments: Wealth Platforms and Advice and Wealth Management.

Wealth Platforms includes the Old Mutual Wealth UK Platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

Advice and Wealth Management encompasses the financial planning network, Intrinsic; Quilter Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

The Quilter plc businesses are being re-branded to Quilter over a period of approximately two years:

• The Multi-asset business is now Quilter Investors

• Intrinsic to Quilter Financial Planning

• The private client advisers business is now Quilter Private Client Advisers

• The UK Platform to Quilter Wealth Solutions

• The International business to Quilter International

• The Heritage life assurance business to Quilter Life Assurance

• Quilter Cheviot will retain its name

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.